Techlead NPN Public Company Limited (TL) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Techlead NPN Public Company Limited THB 0.24, price THB 0.44, upside -45.9%, quality 68 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Techlead Next Public Company Limited, together with its subsidiaries, provides technology solutions in Thailand. The company operates in two segments, Agriculture and Information Technology.
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Techlead Next Public Company Limited, together with its subsidiaries, provides technology solutions in Thailand. The company operates in two segments, Agriculture and Information Technology. It offers PromptPay, a payment gateway solution; digital marketing and communication services; and a marketplace platform that facilitates transactions and manages after-sales systems digitally. The company also develops custom campaigns and specialized software for various industries. In addition, it engages in the plantation, extraction, processing, distribution, import, export, and agriculture of hemps, and marijuana. The company was formerly known as Techlead NPN Public Company Limited and changed its name to Techlead Next Public Company Limited in February 2026. Techlead Next Public Company Limited was incorporated in 1987 and is based in Bangkok, Thailand.
Stock analysis
Techlead NPN Public Company Limited (TL) currently trades at 0.4400 THB, while our model-based Fair Value estimate is 0.2380 THB, implying the stock looks roughly 84.9% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 0.3000 THB per share, and 3 of the 14 models we run sit above the 0.4400 THB price.
Bear case: the Asset-Based group reads lowest at 0.0500 THB, and 11 of the 14 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.1700 THB (bear) to 0.3485 THB (bull), the price of 0.4400 THB sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 68/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Techlead NPN Public Company Limited reported revenue of 234M THB in FY2025 versus 4.1M THB in FY2021, a compound +174.4%/yr. Reported net income was −13.3M THB in FY2025.
Key figures
Market cap 2.4B THB (≈ $71.8M) · P/E ratio 22.0 · P/S ratio 6.91 · EPS (TTM) 0.0200 THB · Net margin −5.7% · Return on equity 12.3% · Return on assets (EBIT) −94.9% · Operating margin 46.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 8% below its 52-week high and 69% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −19% fair-value upside, at −46%, TL screens richer than that median.
Fair Value models
Bear 0.1700 THBFair Value 0.2380 THBBull 0.3485 THB
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.0147 THB per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.83/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
1,968.7% (2021) → 25.0% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+14.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Thailand: IMF forecast 1.2% a year to 2030, 1.1% from 2016 to 2025) that is about +12.8% a year for the price.
Compare Techlead NPN Public Company Limited with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Software - Infrastructure · 383 stocks
Beats the industry median on 8/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score68 · Top 25%
Fair Value upside−46% · Below median
Profitability
Return on equity (TTM)12% · Above median
Return on assets13% · Top 25%
Net margin (TTM)20% · Top 25%
Operating margin (TTM)46% · Top 25%
Valuation Multiplesvs Software - Infrastructure median · lower = cheaper
P/E (TTM)22.0× · Cheaper than median
P/B5.14× · Priciest 25%
P/S (TTM)6.91× · Priciest 25%
P/FCF0.9× · Cheapest 25%
EV/EBITDA10.1× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 16
FUTURE (revenue growth)0· sector 48
PAST (return on equity)49· sector 18
HEALTH (low debt)0· sector 97
DIVIDEND (yield)0· sector 33
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Techlead NPN Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/TL
Frequently asked questions
Is Techlead NPN Public Company Limited (TL) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 0.2380 THB versus a price of 0.4400 THB, about −46% upside (overvalued).
What is the fair value of TL?
Our model-based fair value for Techlead NPN Public Company Limited is 0.2380 THB (as of Sep 24, 2026), built from audited fundamentals. The current price: 0.4400 THB.
What is the quality score of TL?
Techlead NPN Public Company Limited has a Quality Score of 68/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Techlead NPN Public Company Limited (TL)?
Our model-based price target is the fair value of 0.2380 THB (as of Sep 24, 2026) from 14 valuation models. Cautious scenario 0.1700 THB, optimistic scenario 0.3485 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Techlead NPN Public Company Limited stock forecast for 2026?
Our models put fair value at 0.2380 THB, about −46% upside versus a price of 0.4400 THB (overvalued). Cautious scenario 0.1700 THB, optimistic scenario 0.3485 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Techlead NPN Public Company Limited (TL)?
Techlead NPN Public Company Limited reported trailing-twelve-month revenue of about 347M THB (latest available figure, as of Sep 24, 2026).
What growth is priced into Techlead NPN Public Company Limited (TL)?
For today's price to be fair in a discounted-cash-flow model, Techlead NPN Public Company Limited would have to grow free cash flow by +14.1 % per year for five years (discount rate 13.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +174.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of TL use?
Our models discount Techlead NPN Public Company Limited at 13.1 %: a base by market capitalisation (micro), damped by beta 0.21, country premium for Thailand. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Techlead NPN Public Company Limited that is +14.1 % per year a year over ten years, using the same discount rate (13.1 %) and the same formula as our fair value.
How much growth has Techlead NPN Public Company Limited (TL) delivered so far?
Over the past 4 years revenue at Techlead NPN Public Company Limited grew +174.4 % a year. The price currently implies +14.1 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Techlead NPN Public Company Limited (TL) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into Techlead NPN Public Company Limited (+14.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Techlead NPN Public Company Limited (TL)?
The free-cash-flow yield on the price is 4.65 %: that much free cash flow Techlead NPN Public Company Limited produces per unit of market value. When it exceeds the discount rate of our models (13.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Techlead NPN Public Company Limited (TL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Techlead NPN Public Company Limited it is 0.2380 THB per share (as of Sep 24, 2026), against a price of 0.4400 THB. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Techlead NPN Public Company Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, TL trades above its calculated fair value: price 0.4400 THB, fair value 0.2380 THB, a gap of about −46% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TL?
No. The price is what the market pays today (0.4400 THB); the fair value is what the company's own numbers justify (0.2380 THB). For Techlead NPN Public Company Limited the two are 0.2020 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Techlead NPN Public Company Limited worth?
The market values Techlead NPN Public Company Limited at about 2.4B THB (market capitalisation, as of Sep 24, 2026). Per share that is 0.4400 THB; our models calculate a fair value of 0.2380 THB per share.
What do the bullish and bearish scenarios say about TL?
Our models span a range for Techlead NPN Public Company Limited: cautious scenario 0.1700 THB, base 0.2380 THB, optimistic 0.3485 THB per share (as of Sep 24, 2026, price 0.4400 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TL?
Techlead NPN Public Company Limited trades at a price-to-earnings ratio of 22.0 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 0.2380 THB is built from several models across several years. Other multiples: P/B 5.1, P/S 6.9, EV/EBITDA 10.1.
How solid is the balance sheet of Techlead NPN Public Company Limited (TL)?
Balance-sheet figures for Techlead NPN Public Company Limited (as of Sep 24, 2026): return on equity 12.3%. They feed the Quality Score of 68/100, which measures business quality independently of the share price.
How far is TL from its 52-week high?
Techlead NPN Public Company Limited trades at 0.4400 THB, about 8% below its 52-week high of 0.4800 THB and 69% above the low of 0.2600 THB (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 0.2380 THB is for.
Which stocks are comparable to Techlead NPN Public Company Limited?
From the same area (Technology) we also value Microsoft Corporation, Oracle Corporation, Palantir Technologies Inc, Palo Alto Networks, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Techlead NPN Public Company Limited stock attractive at the current price?
The data as of Sep 24, 2026: price 0.4400 THB, calculated fair value 0.2380 THB (−46%), Quality Score 68/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TL calculated?
We run Techlead NPN Public Company Limited through 14 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 0.2380 THB, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0 % above its aggregate fair value. Techlead NPN Public Company Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Techlead NPN Public Company Limited (TL)?
The closing price on Sep 24, 2026 was 0.4400 THB. Our model-based fair value is 0.2380 THB, about −46% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Techlead NPN Public Company Limited right now?
The price sits above even our optimistic bull case (0.3485 THB). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (68/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (0.1700 THB to 0.3485 THB) leaves room in how you read the outcome.
Key figures of Techlead NPN Public Company Limited
How large is the market capitalisation of Techlead NPN Public Company Limited (TL)?
The market capitalisation of Techlead NPN Public Company Limited is 2.4B THB (≈ $71.8M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Techlead NPN Public Company Limited (TL)?
The price-to-sales ratio of Techlead NPN Public Company Limited is 6.91 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Techlead NPN Public Company Limited (TL)?
Earnings per share at Techlead NPN Public Company Limited are 0.0200 THB (price ÷ EPS = P/E 22.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Techlead NPN Public Company Limited (TL)?
The net margin of Techlead NPN Public Company Limited is −5.7% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Techlead NPN Public Company Limited (TL)?
The return on equity (ROE) of Techlead NPN Public Company Limited is 12.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Techlead NPN Public Company Limited (TL)?
On an EBIT basis the return on assets of Techlead NPN Public Company Limited is −94.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Techlead NPN Public Company Limited (TL)?
The operating margin of Techlead NPN Public Company Limited is 46.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast are earnings growing at Techlead NPN Public Company Limited (TL)?
Earnings per share at Techlead NPN Public Company Limited are growing +203% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Techlead NPN Public Company Limited (TL) hold?
Techlead NPN Public Company Limited holds more cash than debt, 281M THB net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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